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20121108
20121116
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KPIX (CBS) 19
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
and republican house speaker john boehner are talking about a new spirit of cooperation. but there are battles ahead and we have a team of correspondents covering this fresh start with old players in washington. first, nancy cordes with the president. >> reporter: the president and his family boarded air force one in chicago this afternoon after a visit to campaign headquarters where president obama embraced his campaign manager, jim messina, and elated staffers and volunteers. despite all the talk beforehand of a razor tight race, in the end president obama captured all but two of the states he won in 2008. i just spoke with governor romney and i congratulated him and paul ryan on a hard-fought campaign. (applause) we may have battled fiercely, but it's only because we love this country deeply and we care so strongly about its future. >> reporter: before a cheering crowd of thousands in south chicago, president obama laid out an ambitious second-term agenda: deficit reduction, tax code reform, immigration reform, and energy independence. big goals that have inspired and divided the two partie
for now, he and john boehner are talking about a new spirit of cooperation in washington. >> we're not as divided as our politics suggested. we're not as cynical as the pundits believe. we're greater than the thumb of our individual ambation. >> reporter: today speaker boehner started open negotiations with the president. >> we're willing to accept new revenue under the right conditions. it matters where it comes from and what type of reform comes with it. if there's a mandate in yesterday's results it's a mandate for us to figure out a way to work together. >> reporter: now there's a new idea thrown out by the house speaker. he's saying why don't we delay the fiscal cliff all together for a year and in the meantime congress can work on reforming taxes and social security. >> the dow plunged 312 points today, its worst day in the year. a lot of talk is that wall street is worried a second term president obama will want tougher regulations. cbs money watch points out two hours before the opening bell the president of the european central bank admitted the euro zone crisis is now
boehner outlined different positions is there room for a deal. >> i think there may be because john boehner made it clear that while republicans don't want tax rates to rise, they are open to collecting additional revenue. on the other side, president obama reiterated that he wants the wealthiest americans pay more taxes but he did not demand that tax rates rise to collect the money. if we read between the lines it looks like a deal could be cut to limit itemized deductions for the wealthiest americans. that's schedule a and some o of the popular deductions include mortgage interest or charitable contributions, property taxes and state and local taxes, we could see a deal around the itemized deductions. >> i don't want to be the grim reaper, what if they don't get a deal done, we're in trouble. >> 80 to 90% of americans are going to see their taxes increase, maybe by 3500 dollars on average, 2 grand for middle income americans. if you're a low to middle wage earner. here's what you would lose, the valuable earned income tax credit and payroll tax would go up by a couple percent. if
to keep speaker john boehner from setting the ground rules when it comes to negotiations over the fiscal cliff, mix of spending cuts and tax increases that will kick in at the end of the year. after returning to the white house victorious you'll hear the president argue today, as he did so many times on the campaign trail that household income over $250,000 a year should revert to those higher clinton era tax rates. white house aides say his victory is a sign that the american people feel the same way. they have no plans of backing down. they have not said how they plan to handle negotiations on the fiscal cliff. they've really just been regrouping. he met with top aides about it yesterday. capitol hill is telling me that they're waiting to hear how the white house wants to move forward. there's really nothing they can do until they hear from the white house. we got a stark reminder of how high the stakes are. the nonpartisan congressional budget office released a report saying of all those spending cuts and tax increases associated with the fiscal cl
crow ate jobs for americans. >> john boehner drew a line yesterday, no tax increases for small business. very interesting. thank you, rebecca. >>> more than 120 million americans voted for a president this year but now a much smaller group of people are deciding the government for china. bill whitaker is in china with that story for us. good morning. >> reporter: good morning, norah. tightly held behind closed doors. unlike the u.s. the chinese people don't have a say. but they're making their voices heard just the same. everything about the 18th party congress is big. beijing's great hall of the people, more than 2,000 delegates, the communist elite carry the enormous weight and pride of history and chiennachina's boundless hope ss for the future. increasingly the hopes of 1.3 billion people clash with the one-party state. by some estimates there are 500 protests in china every day over corruption. last week in the central coastal city, huge protests over the expansion of a petro chemical plant. communist officials say it was good for the economy. 10,000 ang
doesn't have to be a fight. >> reporter: republicans are keeping control of the house and speaker john boehner is standing his ground. >> you know, the american people this week didn't give us a mandate to simply do the simple thing. they elected us to lead. they gave us a mandate to work together to do the best for our country. >> reporter: both parties will have to compromise by the end of the year to avoid the so- called "fiscal cliff." if they don't, the country faces a rollback of tax cuts as well as big cuts to defense and social programs. and there will be little time for the winners to celebrate. next tuesday, congress convenes and the top discussion will be on that "fiscal cliff." at the white house, tara mergener cbs 5. >> mitt romney and his wife left their boston hotel this morning. their future is uncertain. romney spent the past six years running for president. what's next? the initial plan is to spend time with family. but his wife recently said he will not run again for president. there is april general consensus the 65-year-old politician was unlikely -- there is a gen
listened to you. >> reporter: and the gop listened too. house speaker john boehner promised his party is willing to get down to business. >> the republican majority here in the house stands ready to work with you to do what's best for our country. >> reporter: both sides will be put to the test almost immediately. the president and congress will have to work together to overcome the looming fiscal cliff. that would involve automatic drastic spending cuts and tax increases at the end the year if no deal is reached. both sides are indicating a give and take. >> we're willing to accept new revenue under the right conditions. what matters is where the increased revenue comes from and what type of reform comes with it. >> it's better to dance than to fight. it's better to work together. >> reporter: and voters are counting on it. tara mergener for cbs news, the white house. >>> cbs moneywatch time now on a thursday. worries about the fiscal cliff are already affecting stocks around the world. erica ferrari with more on that. >> reporter: asian markets tumbled over worries about the looming
. >> reporter: scott, white house officials told me today they were encouraged by house speaker john boehner's comment yesterday about finding common ground. still, they reiterate today any hal is going to have to involve allowing those bush tax cuts to expire for household incomes 50er $250,000 a year. and that's something republicans adamantly oppose. the nonpartisan congressional fidget office put out a report today that stayed allowing those tax cuts to expire just for top tax earners would constrain economic juowth next year by just one- oenth of 1%. the report also showed what's at stake here if all the tax increases and spending cuts l cociate with the fiscal cliff ,re allowed to kick in, the unemployment rate will shoot up to 9.1% in 2013, from 7.9% now. hat's why vice president biden predicted today the two sides till come up with a solution. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: white house officials insist they have all lhe leverage here because all the bush tax cuts are set to expire if republ
of compromise, consensus building. >> reporter: house speaker john boehner said republicans are willing to raise revenue but only under certain conditions. >> what matters is where the increased revenue comes from and what type of reform comes with it. >> reporter: vice president biden is certain a solution can be found. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: finding a solution in a lame duck congress could prove complicated. and that report from the congressional budget office also said if no agreement is reached the jobless rate would go up to 9.1% next year. >> susan mcginnis in washington on a friday morning. thank you so much. here in the northeast recovery from a pair of powerful storms is slow, painful and frustrating. this morning air travel in new york is expected to return to normal following wednesday's nor'easter. the storm complicated problems by superstorm sandy. hundreds of thousands remain without power or heat and can't get fuel. it's so bad doctors without borders set up its ever u.s. clinic.
of communication between the president and the house speaker john boehner. >> i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. >> everyone wants to get our economy moving again. everyone wants to get more americans back to work again. >> reporter: could this be washington code for a real compromise? political science expert max neimann says that's exactly what it is. >> and there's a kind of dance taking place in which each side wants to portray itself as the one that is reasonable. >> reporter: that could be tough on capitol hill. today the president promised to veto any deals that include tax cuts on people making more than $250,000 a year a move republicans say will only cost more jobs. >> if we're serious about reducing the deficit, we have to combine spending cuts with revenue. and that means asking the wealthiest americans to pay a little more in taxes. >> according to the ernst & young raising the top rates would destroy nearly 700,000 jobs in our country. >> reporter: while the president and the speaker are at odds over income taxes on wealthier ame
for the country when it comes to fiscal cliff. >> glor: house speaker john boehner held a conference call with his members telling them compromise was needed. obama senior advisor david axelrod called boehner's comments to members encouraging. >> i think there are a lot of ways to skin this cat so long as everybody comes with a positive, constructive attitude toward the task. >> glor: if the automatic spending cuts happen, exactly 50% of the board without fall on the pentagon. national security correspondent david martin lays out what that would mean. e> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words about what that would mean. >> if a sequestration is allowed to go into effect it will be a disaster for national defense. >> reporter: according to panetta the new american strategy of pivoting away from the wars in iraq and afghanistan toward the pacific and an emerging chinese superpower would come undone. >> all of that can go to hell if this congress doesn't fac
for the wealthy. >> while members are not supportive of the tax plan, john boehner are urging them to make compromise, something president obama senior adviser david axelrod called encouraging. >> there's money to be gained by closing some of these loopholes and applying them to deficit reductions. >> one half of those automatic spending cuts would affect the defense department's budget. david martin shows us what that means for the military. >> reporter: the dreaded sequestration would double the $500 billion in cuts the pentagon is already planning to make over the next decade. defense secretary panetta has not minced words. >> if sequestration goes into effect it's a disaster for national defense. >> reporter: the strategy of pivoting away from the wars in iraq and afghanistan towards the pacific and an emerging chinese superpower would come undone. >> all of that can go to hell if this congress doesn't face up and deal with the issue of sequestration. >> reporter: in this letter to senators panetta warned by the time sequestration was over the u.s. would have the smallest ground force
now. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difficult which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your relation
that their taxes will not go up a single dime next year. give them that certainty right now. >> reporter: but john boehner has balked at that idea. it would take away his party's leverage in fiscal cliff issues. >> there's a lot of issues on the table that need to be resolved. i laid out a reasonable framework where both parties can work together and i'm looking forward to meet at the white house on friday and begin that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead of raising their tax rates. >> we're not going to hurt our economy and make job creation more difficult, which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't do enough to cut the deficit. they will have that argument face to face with boehner on friday. >> one of the most frequent criticisms we've heard over the past few years from members on both sides is that you haven't done enough to reach out and build relationships. are there concrete ways that you plan to approach your rela
's debt crisis. but speaker john boehner told house republicans that after last week's election the mandate from the american people is to work together even if it means additional revenues through tax reform. meanwhile bill kristol, editor of "the weekly standard," seemed to cave in on the president's demand that wealthy people pay more. >> you know what? it won't kill the country if we raise taxes a little bit on millionaires. it really won't, i don't think. really? t >> reporter: the president begins making his case this week. what's different this time is that administration officials are already suggesting to congress that mr. obama is willing to let the deadline pass, let tax rates go up, and spending be cut if he can't get the deal he wants. norah, charlie? >> wow. bill plante in washington, thank you. >>> later this morning we'll ask conservative activist grover norquist if republicans are backing away from his no tax increase pledge. >>> two weeks ago today superstorm sandy battered the northeast. more than 100,000 homes and businesses still have no power. most of them
john boehner is standing his ground. >> you know, the american people this week didn't give us a mandate to simply do the simple thing. they elected us to lead. they gave us a mandate to work together to do the best for the country. >> reporter: both parties will have to compromise by the end of the area to avoid the "fiscal cliff." if they don't, the country faces a rollback of tax cuts as well as big cuts to defense and social practices. the main concern about the "fiscal cliff" is it could plunge us back into recession. already, president obama wants to end the tax cuts for the wealthiest americans. but the republicans want the cuts for everyone. so what about mitt romney? he has been on the campaign trail six years now. he says it's probably the end of his political career. he plans to spend more time with his family. he has a lot of family, five sons and 18 grandchildren and he has a 19th one on the way. so dana, i think he has his hands full. >> if he thinks he is going to get some rest, he's not. grace, thank you. >>> four million more hispanics were eligible to vote thi
negotiations to deal with the issue. house speaker john boehner said wednesday he is willing to compromise on raising some taxes. vice president joe biden says the obama administration is willing to compromise, as well. the "fiscal cliff" is across- the-board tax increases and spending cuts scheduled to kick in at the end of the year. >>> the market hopes to recover today from its worst day of the year. here now is jason brooks with kcbs and cbsmoneywatch.com. >> reporter: good morning. good day to compromise on the "fiscal cliff." it's going to be absolutely key. that was one of the main reasons why the market dropped so much yesterday along with ongoing concerns about europe's debt crisis. the dow down 300. the market coming back a little this morning. we have economic reports that may be helping out a little. labor department reporting that first time unemployment claims falling by 8,000 to 355,000 last week. important to know that these numbers are going to be skewed for weeks because of hurricane sandy. they might be lower and we might see a surge in a month because of that. the u.s.
will be confronting the guy who literally has more color than he has, john boehner. >> it is something, you have this big pressure, this great moment, but also the doubts and stuff going in, the win, of the loss, the fact that you can be out the door. someone says you won again. we have the "fiscal cliff" hanging over you, by the way. so get ready. you have 33 seconds. what's your play? you're going to go to be back in the corner. >> he hasn't thought about that at all. he was focused on whether or not he could justify the four previous years. he was not thinking about the four years forward. period. >> i have a question. just the exhaustion factor with romney and the president. the next day they must wake up and say, can i just go to the caribbean for a week? but you have to go back to work. >> the energy is gone. by the time you end at 8:00 on the night of the election at whatever station you happen to be, the energy leaves you. then you discover you didn't have it anyway. you were operating on adrenaline and what have you. so you have no idea the exhaustion of what you have gone through. the
Search Results 0 to 18 of about 19 (some duplicates have been removed)